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Share Price: 515.80
Bid: 516.20
Ask: 516.40
Change: 6.40 (1.26%)
Spread: 0.20 (0.039%)
Open: 508.50
High: 517.60
Low: 503.60
Prev. Close: 509.40
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Week Ahead: Lloyds, RBS, BP, US unemployment

Fri, 27th Apr 2012 11:54

Banking results season gets in to full swing with Lloyds and RBS giving first quarter updates. There are plenty of other blue-chip companies clamouring for the limelight but it will be hard to ignore the first quarter update from BP on Tuesday, while on the economic front, US jobless figures for April will the highlight on Friday. On the subject of nationalised bank Royal Bank of Scotland (RBS), Credit Suisse said: "Having seen a strong performance YTD [year-to-date] we were disappointed by the scale of the announcement of GBM [Global Banking and Markets] restructuring. Since then the debate has moved on to discussion surrounding government exit strategies, which will likely support the stock in the short term despite sub-sector return profile."As for Lloyds, Credit Suisse thinks the focus will be on the pace of net interest margin compression and whether there has been any change to guidance at the time of its full year results of a net interest margin in 2012 of 1.92 percentage points. "As important will be any updates on the Verde disposal and progress on deleveraging," the broker adds. Project Verde is Lloyds' project name for its European Commission-enforced disposal of a number of branches.Turning to integrated oil giant BP, recently returned to the dividend standard, Charles Stanley's Tony Shepard thinks first quarter net income will be flat at $5.4bn. The quarterly dividend should be maintained at 8 cents, but Shepard reckons that if BP can deliver on its medium term cash flow targets "there appears scope to increase the dividend further but it requires oil prices to remain at or above $100/bbl".Across the pond, US non-farm payrolls is, as ever, the first key economic indicator to be released for the preceding month. Expectations are that payrolls will have increased by 175,000 in April, following on from March's 170,000 increase. The unemployment rate is seen staying at 8.2%. Monday April 30INTERIMSInfrastrata, Redefine InternationalINTERIM DIVIDEND PAYMENT DATEManchester & London Inv TrustQUARTERLY PAYMENT DATEDow Chemical Co, JP Morgan Chase & Co, Middlefield Canadian Income PCC, Schroder Income Growth FundINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Payments (GER) (07:00)Chicago PMI (US) (13:45)International Reserves (EU) (11:00)M3 Money Supply (EU) (09:00)Personal Consumption Expenditures (US) (13:30)Personal Income (US) (13:30)Personal Spending (US) (13:30)Retail Sales (GER) (07:00)FINALSHarvey Nash Group, Juridica Investments Ltd., WaterlogicANNUAL REPORTPlaza Centers NVIMSSFBD HoldingsAGMSBilfinger Berger Global Infrastructure Sicav S.A.(DI), DP World Limited, FBD Holdings, Greenwich Loan Income Fund Ltd., ICB Financial Group Holdings (CDI), London Capital Group Holdings, Minoan Group, NextGen Group, Personal Group Holdings, Puma High Income VCT , Randgold Resources Ltd., Signet Global Fixed Income Strategies Ltd., Symphony International Holdings Ltd., TravelzestTRADING ANNOUNCEMENTSCrestonFINAL DIVIDEND PAYMENT DATEEMIS Group, Filtrona PLC, Wynnstay GroupQ1Erste Group Bank AGTuesday May 01INTERIMSImperial Tobacco GroupINTERIM DIVIDEND PAYMENT DATEIngenious Entertainment VCT 1 F Shares, Ingenious Entertainment VCT 2 F Shares, Interior Services Group, NWF Group, WolseleyQUARTERLY PAYMENT DATEMercantile Investment Trust (The), Torchmark Corp., Verizon CommunicationsINTERNATIONAL ECONOMIC ANNOUNCEMENTSAuto Sales (US) (15:00)Construction Spending (US) (15:00)ISM Manufacturing (US) (15:00)ISM Prices Paid (US) (15:00)FINALSBrown (N.) GroupIMSSIrish Continental Group Units, Lloyds Banking Group, Man Group, National Express GroupAGMSMan Group, Rentokil Initial, XstrataUK ECONOMIC ANNOUNCEMENTSPMI Manufacturing  (09:30)FINAL DIVIDEND PAYMENT DATEAll Leisure Group, Jardine Lloyd Thompson Group, Lavendon GroupQ1BP, CSR, Reckitt Benckiser GroupWednesday May 02INTERIMSAvon RubberINTERIM EX-DIVIDEND DATECarr's Milling Industries, Lok'n Store Group, Next Fifteen Communications, SwallowfieldQUARTERLY EX-DIVIDEND DATECity of London Inv Trust, JPMorgan Claverhouse Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSCrude Oil Inventories (US) (15:30)Factory Orders (US) (15:00)Goods Orders (US) (15:00)MBA Mortgage Applications (US) (12:00)PMI Manufacturing (GER) (08:55)Unemployment Rate (GER) (08:55)Q3British Sky Broadcasting Group, KofaxFINALSHome Retail GroupIMSSHenderson Group, Next, Provident Financial, Wetherspoon (J.D.)SPECIAL DIVIDEND PAYMENT DATEDP World LimitedSPECIAL EX-DIVIDEND PAYMENT DATEAdmiral GroupAGMSAlpha UK Multi Property Trust, AZ Electronic Materials SA (DI), BAE Systems, Communisis, Fiberweb, Henderson Group, IP Group, Kerry Group 'A' Shares, Lighthouse Group, Provident Financial, Spirent Communications, StatPro GroupTRADING ANNOUNCEMENTSPlaytech Ltd.UK ECONOMIC ANNOUNCEMENTSConsumer Credit (09:30)M4 Money Supply (09:30)M4 Sterling Lending (09:30)Mortgage Approvals (09:30)PMI Construction (09:30)FINAL DIVIDEND PAYMENT DATEDP World Limited, Edinburgh UK Tracker Trust, New World Resources A SharesFINAL EX-DIVIDEND DATEAdmiral Group, African Barrick Gold , AG Barr, Anglo Pacific Group, APR Energy, ARM Holdings, Cobham, Cookson Group, Croda International, Dunedin Enterprise Investment Trust, Edinburgh US Tracker Trust, Elektron Technology, Elementis, EP Global Opportunities Trust, Ferrexpo, Henderson Group, Henry Boot, Highcroft Investment, Hochschild Mining, Holders Technology, Hydro International, Hydrogen Group, ITV, JD Sports Fashion, KBC Advanced Technologies, Keller Group, Kingfisher, Laird, Michael Page International, Ocean Wilsons Holdings Ltd., Pennant International Group, Porvair, Senior, Shaft Sinkers Holdings, SIG, SThree, Travis Perkins, Weir Group, William Hill, XstrataQ1First Quantum Minerals Ltd., Wolfson MicroelectronicsThursday May 03INTERIMSAberdeen Asset ManagementINTERNATIONAL ECONOMIC ANNOUNCEMENTSBloomberg Consumer Confidence (US) (14:45)Continuing Claims (US) (13:30)ECB Interest Rate (EU) (12:45)Initial Jobless Claims (US) (13:30)ISM Non-Manufacturing (US) (15:00)ISM Services (US) (15:00)Productivity (US) (13:30)GMSJohnson Service GroupIMSSDiageo, Legal & General Group, Mondi, Morgan Sindall Group, Morrison (Wm) Supermarkets, Rexam, RSA Insurance Group, Schroders, Schroders (Non-Voting), St James's Place, WSP GroupAGMSAga Rangemaster Group, ARM Holdings, Aviva, Avocet Mining, GKN, GlaxoSmithKline, Inmarsat, Japan Residential Investment Co Ltd., Lancashire Holdings, Millennium & Copthorne Hotels, Mondi, Morgan Sindall Group, Petroleum Geo Services ASA, Phoenix Group Holdings (DI), Premier Foods, Rapid Realisations Fund Ltd., Reckitt Benckiser Group, Rexam, Schroders, Schroders (Non-Voting), Timeweave, Trap Oil Group, WSP GroupTRADING ANNOUNCEMENTSCarphone Warehouse GroupUK ECONOMIC ANNOUNCEMENTSPMI Services (09:30)FINAL DIVIDEND PAYMENT DATEBritish American Tobacco, Herald Inv Trust, Spirent Communications, Stadium GroupQ1Avocet Mining, Banco Espirito Santo SA, BG Group, Man SE, Millennium & Copthorne Hotels, Randgold Resources Ltd., Reed Elsevier, Smith & NephewFriday May 04INTERIM DIVIDEND PAYMENT DATEAnimalcare Group, Asian Citrus HoldingINTERNATIONAL ECONOMIC ANNOUNCEMENTSNon-Farm Payrolls (US) (13:30)PMI Composite (EU) (09:00)PMI Composite (GER) (08:55)PMI Services (EU) (09:00)PMI Services (GER) (08:55)Unemployment Rate (US) (13:30)ANNUAL REPORTDillistone Group, Toumaz LimitedIMSSIMI, Laird, Rolls-Royce Holdings, Royal Bank of Scotland GroupSPECIAL DIVIDEND PAYMENT DATEAsian Citrus HoldingAGMSAer Lingus Group, Globaltrans Investment GDR (Reg S), IMI, John Laing Infrastructure Fund Ltd, Laird, Rolls-Royce Holdings, Smurfit Kappa Group, Toumaz LimitedTRADING ANNOUNCEMENTSRentokil InitialUK ECONOMIC ANNOUNCEMENTSNew Car Registrations (09:30)FINAL DIVIDEND PAYMENT DATEAmino Technologies, Berendsen, Bodycote, Devro, Foresight 2 VCT, Foresight 2 VCT 'C' Shares, London Capital Group Holdings, Nichols, Pearson, Promethean World, SEGRO, Tikit Group, Ultra Electronics HoldingsQ1Lancashire Holdings, Norwegian Property ASA, Smurfit Kappa GroupJH
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